The value of work in the construction industry, the largest consumer of steel in Mexico, registered a nominal increase (without adjustment for inflation) of 41.1 percent, year-over-year, in October, at $3.62 billion. It is the 32nd consecutive annual increase, according to SteelOrbis analysis of data from the national statistics agency Inegi. In real terms (seasonally adjusted data), the annual increase was 38.2 percent.
Of the 32 states of the country, in October the value of works grew in 27, of which Quintana Roo stood out with an increase of 289 percent, Hidalgo, Campeche, Oaxaca, Durango, and Aguascalientes registered annual increases of more than 100 percent. Those 27 states contribute 86.6 percent of the total value.
In contrast, in the five entities where the value of construction works decreased. Tabasco and Morelos stood out with losses of more than 40 percent. In Mexico City (Mexico's largest economy by its contribution to GDP) it decreased 5.9 percent. These five entities contribute 13.4 percent of the total value for October.
The accumulated value in the January-September period, the value of construction, is MXN 537 billion ($30.41 billion).
In the accumulated until October, the five largest construction economies in the country are Quintana Roo (9.5 percent of the national total), Nuevo León (8.1 percent), Jalisco (6.9 percent), Campeche (6.8 percent) and Sonora (5.5 percent). Together the five contribute 36.7 percent of the total.
The construction industry contributes 6.0 percent of Mexico's total GDP ($1.59 trillion).